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An Aerial Of Cenovus's Foster Creek Operation In Northern Alberta (Photo: Business Wire)

Financial & Production Summary
(for the period ended September 30)

($ millions, except per share amounts)

  2012

Q3

  2011

Q3

  % change

Cash flow 1

1,117 793

41

Per share diluted 1.47 1.05

 

Operating earnings 1

432 303

43

Per share diluted 0.57 0.40

 

Net earnings 289 510

-43

Per share diluted 0.38 0.67

 

Capital investment 2

830 631 32
Production (before royalties)      
Foster Creek (bbls/d) 63,245 56,322 12
Christina Lake (bbls/d) 32,380 10,067 222
Total Foster Creek & Christina Lake (bbls/d) 95,625 66,389 44
Pelican Lake (bbls/d) 23,539 20,363 16

Other conventional oil 3 (bbls/d)

52,186 46,744 12
Total oil production (bbls/d) 171,350 133,496 28
Natural gas (MMcf/d) 577 656 -12

1 Cash flow and operating earnings are non-GAAP measures as defined in the Advisory. See also the Earnings Reconciliation Summary. 2 Includes expenditures on property, plant and equipment and exploration and evaluation assets, excluding acquisitions and divestitures. 3 Includes natural gas liquids (NGLs) production.

 

Cenovus Energy Inc. (TSX, NYSE: CVE) delivered strong third quarter performance led by significant growth in oil sands production and excellent results from its refining operations. As planned, the company increased capital spending compared with the same period a year ago as it continued to expand operations at its oil sands assets and conventional oil properties in Alberta and Saskatchewan.

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